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Home / KS: State Looks to Halt Phase-out of Corporate TaxKS: State Looks to Halt Phase-out of Corporate Tax
Last Updated on Friday, 23 January 2009 04:46 Written by rslcpol Friday, 23 January 2009 01:51
From the Wichita Eagle:
Business leaders urged a House panel Thursday not to halt the phase-out of the corporate franchise tax lawmakers voted to eliminate two years ago.
The tax is paid by 7,000 companies, all with a net worth of more than $1 million. It is capped at $20,000, though companies must pay the tax separately for each subsidiary.
Lawmakers voted in 2007 to phase out the tax through 2011. Gov. Kathleen Sebelius recommended halting the phase-out, which would generate about $14 million for the state.
This entry was posted on Friday, January 23rd, 2009 at 1:51 pm and is filed under State Legislature News.
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